Apply Credit Card: Guaranteed Acceptance?
Unfortunately, there are no guarantees in life and that is exactly the same when it comes to applying for a credit card. It doesn’t matter if you have good credit or bad credit there are always points you need to remember because overall, acceptance is not definite. You could be turned down due to a number of factors:
- Poor Income. On occasions when you apply for credit cards, the lenders may consider you to have a poor income based on your incomings and outgoings and this could lead to you almost certainly being turned down as you may not be able to keep up the repayments.
- Bad Credit. This is the most common reason as to you being turned down when you apply credit cards because individuals / couples who fail to keep up with all regular repayments will be recorded appropriately (with credit and referencing agencies such as Experian) and this is what leads to your credit score being extremely low.
- Employment Status. If you apply credit card and are found to be unemployed or only work part time then this is will almost certainly lead to you being turned down. If you don’t work then you are unlikely to be offered a credit card because again, you may not be able to keep up with the repayments.
When it comes to applying on a credit card, it is mainly common sense when you submit your application so if perhaps you fall into one of the above categories then I would strongly urge not to apply credit card or at least for the time being.
In such scenarios, it is unlikely that you will be accepted and therefore avoid apply credit card because whether or not you are accepted, it will again be recorded with companies such as Experian and this could affect your credit score even further.
As I have said nothing comes with guarantees and in a society that is currently riddled with billions of pounds worth of debt which continues to grow almost daily then it is even more unlikely that when you do apply on a credit card, your application is going to be a no rather than a yes.
It is completely possible that you will be accepted but no one can be sure until the final result is revealed and as to why or why not you have been accepted when you apply for a credit card.
If you do decide to get a credit card then it is best not to get your hopes up (especially if you need to rely on such a facility) because you are going to be disappointed and secondly, you could be just one of the many who suffer from debt related issues by using “plastic” to supplement income which simply doesn’t exist.
Should you choose to apply to a credit card company then you need to be aware of your responsibilities as a credit card holder and by making regular repayments (however small) will not only boost your credit rating ever so slightly, it will keep those debt issues at bay.
Only apply to credit cards if you feel completely happy that you can handle the responsibility and the repayments that comes with it. If not then it is simple. Don’t apply for a swanky credit card, if you will be able to live without it.